giving you the goods to stay competitive · november 2013 gst - giving you the goods to stay...

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GSTGiving you the goods to stay competitive

2 GST - Giving you the goods to stay competitive November 2013

What does GST mean for you?

GST is not just a tax matter.It’s a business issue.

Why is it important to you?

• It affects every aspect of your business, including sales and marketing, procurement, IT and human resource.

• It’s a multi-stage consumption tax on goods and services, and it covers all sectors of the economy.*

• Getting it wrong may result in penalties.

*GST will be imposed on all goods and services made in Malaysia and imports (except goods and services categorised under zero rated supply and exempt supply orders as determined by the Minister of Finance).

November 2013 GST - Giving you the goods to stay competitive 3

Are these issues keeping you awake at night?

Too many uncertainties yet too little time to prepare?

It’s proven that businesses which start their GST implementation projects early have a much smoother implementation process and a better track record of compliance post-implementation. Done well, it can be a competitive advantage.

YouwillalsofindthatGSTwillprovidean opportunity to make your business processesmoreefficientonceyoubuild a clear roadmap for effective GST compliance.

• How do I comply with GST?

• How will it affect my pricing?

• How do I communicate the potential price effects to my customers?

• Howwillmycashflowbeaffected?

• How do I modify my accounting system?

• How do I educate my employees about GST?

• How do I improve my IT processes to support my business?

RM20K


How we can help you get ready for GST

Our GST team comprises:

• experienced tax consultants who were involved in consultations with the government’s Tax Review Panel on the proposed draft GST legislation

• professionals who have worked with government authorities in Malaysia and Australia on GST law development and compliance frameworks

PwC can help you start off on the right foot. We’ll help you identify the issues critical to your business needs, and help you implement GST with a focus on minimising interruption to your business.

We have a dedicated GST team with the breadth and depth of experience in indirect tax strategy development, strategy implementation, and GST compliance.

“We believe in engaging with you regularly. We want to assist you at every stage of the project.”


5 steps to help you get ready for GST

Based on the survey results, we may organiseaGSTworkshopforyourfinanceteam. This workshop helps you address adhoc issues which may impact your GST implementation efforts.

Get your customised GST business review report after taking the survey.

Take the GST business review survey – answer tailored, straightforward questions on your current business activities and processes.

GSTawarenessbriefingandbriefingpack– this gives you a background on GST and guidelines on how to complete a GST business review survey.

Face time with our PwC consultants - we’ll sit down to discuss what your business needs.

• An assessment, zeroing in on where you are and what you need to do to implement GST

• Recommended next steps and remedial action plans to address potential teething issues that may crop up during the implementation stage

What you stand to gain

Resultsthat matter

Step 1 Step 2 Step 3

Step 4Step 5

This is a structured approach for growing businesses if you choose to implement GST. Upon completing these steps, you can choose to implement GST on your own or get our assistance for implementation and technical support, and post-implementation strategy.

Note: For more complex business organisations and groups, PwC can tailor a separate approach to meet your needs.


Talk to us

Wan Heng ChoonSenior Executive DirectorPwC Taxation Services Sdn Bhd+60(3) 2173 [email protected]

Raja KumaranExecutive DirectorPwC Taxation Services Sdn Bhd+60(3) 2173 [email protected]

Dato’ Tan Kwong JinTax AdvisorPwC Taxation Services Sdn Bhd+60(3) 2173 [email protected]

Hanita AhmadExecutive DirectorPwC Taxation Services Sdn Bhd+60(3) 2173 [email protected]

PwC Taxation Services Sdn BhdLevel 10, 1 SentralJalan TraversKuala Lumpur Sentral 50470 Kuala Lumpur

Nicolaos GiannopoulosExecutive DirectorPwC Taxation Services Sdn Bhd+60(3) 2173 [email protected]

Yap Lai Han Executive DirectorPwC Taxation Services Sdn Bhd+60(3) 2173 [email protected]

© 2013 PricewaterhouseCoopers. All rights reserved. “PricewaterhouseCoopers” and/or “PwC” refers to the individual members of the PricewaterhouseCoopers organisationinMalaysia,eachofwhichisaseparateandindependentlegalentity. Pleaseseewww.pwc.com/structureforfurtherdetails. CS06354

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giving you the goods to stay competitive · november 2013 gst - giving you the goods to stay...

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